Introduction

The purpose of this process is to ensure information from the Payroll System data base is reported to the IRS in the correct formats and on a timely basis in preparation of 940, 941A and W2 reports.

These are are federal tax reports need to be completed on certain dates. These dates are dependent upon the amount of taxes due.

The 940 form is the Federal Unemployment Form due at the end of the year. All unemployment taxes are due during the year. Use menu# 3.4.3.2 to print the annual tax report. This report is usually printed during the end-of- month update for December of each year.

The 941A report is the Federal tax and Social Security/Medicare tax report. This report is due at the end of each calendar quarter. Use menu# 3.4.2.1 to print the appropriate information to transfer to the 941A report.

The Federal W2 reports are simply the yearly earnings reports given to employees at the end of each year. This report is prepared during the End-Of- Month update at the end of December of each year. The report is saved on media and you are able to print this information at any time.